Cardinal Health posts fewer sales but greater profits vs. Wall Street expectations
DUBLIN, Ohio — Cardinal Health on Thursday reported fiscal year 2013 third-quarter revenue of $24.6 billion, a 8.9% decline as compared with the quarter a year ago.
However, Cardinal Health reported net earnings per share of $1.01, up 5.2%. According to published reports, Wall Street had been expecting greater revenue of $24.7 billion but at a lesser gain with earnings expectations estimated around 96 cents per share.
"We delivered another solid performance in our fiscal third quarter," stated George Barrett, chairman and CEO of Cardinal Health. "Both our pharmaceutical and medical segments reported double-digit profit growth."
Following the quarterly report, the wholesaler raised its fiscal 2013 outlook for non-GAAP diluted EPS from continuing operations to a range between $3.67 and $3.71. The revised range includes the $0.18 tax settlement previously mentioned.
Cardinal Health also announced that its board of directors approved a 10% increase in the company’s quarterly dividend to $0.3025 per share, or $1.21 per share on an annualized basis. The quarterly dividend is payable on July 15 to shareholders of record at close of business on July 1.
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Bayer to acquire Conceptus for $1.1 billion
LEVERKUSEN, Germany — Bayer HealthCare will buy birth-control product maker Conceptus for $1.1 billion, the companies said.
Bayer said its $31-per-share purchase of the Mountain View, Calif.-based company would allow it to expand its selection of contraception products. Conceptus makes Essure, a non-surgical permanent birth-control method, and Bayer said it would allow the company to offer a complete range of short-term, long-term and permanent contraceptive methods for women.
"Bayer is committed to augmenting its organic growth with strategic bolt-on acquisitions," Bayer AG CEO Marijn Dekkers said. "The acquisition of Conceptus represents an excellent fit for our HealthCare business, specifically in the United States, the world’s most important healthcare market."
PrescribeWellness launches LinkWellness 2.5
ALISO VIEJO, Calif. — A search feature that allows pharmacies to quickly determine why patients are calling so they can better serve their needs and a patient registration system that allows easier enrollment in medication-time reminders, disease management and smoking-cessation programs are among the new features of the latest version of PrescribeWellness’ software system.
PrescribeWellness announced Wednesday the launch of LinkWellness 2.5, saying the update to its software-as-a-service patient engagement system would allow better workflow management and improved patient-pharmacist communications, as well as improve medication adherence and outcomes and reduce costs.
"Now more than ever, pharmacists are on the front line of preventive care, and for millions of patients, their pharmacist has become their most accessible and trusted healthcare professional," PrescribeWellness CEO Al Babbington said. "LinkWellness positions the pharmacist at the center of the preventive care continuum by building stronger relationships with their patients and helping them expand their services. Our improved software platform integrates into existing dispensing systems and automates communications to the patient in their channel of choice and language of choice."
Other additions include an "on demand" feature that creates instant will-call bin and recall campaigns to improve inventory turn and patient safety, as well as a new preference manager that allows easier selection of voice, text or email as a communication channel.
"Preventive care is the future of health care, and PrescribeWellness is dedicated to making it easier for consumers to get help from their local pharmacy for population health, medication adherence and chronic disease management," Babbington said. "Pharmacies are as fast-paced as ever, and these upgrades to our LinkWellness platform are designed to improve efficiencies, which, in turn, help the independent retail pharmacist build community with their patients, enhance customer satisfaction and increase quality outcomes."